Tuesday, March 10, 2009

Take some profits

I am looking at the 6900 level on the DOW today to unload some shares and lock in some profit. I have been long the S&P and short the SKF with solid profits in only two days. If the markets finish strong today, I am expecting a mild sell off tomorrow and then resume on a less violent bear market rally until the DOW and S&P reaches the downtrend lines. 

My AET.un, VT and FXI are longer term holds so I may lighten a bit on them if the price continues to appreciate quickly. And then pick up some shares back when it falls back to support levels again.

Don't forget that this is a bear market rally we are going into now. Stay nimble, keep long positions small and manageable. And if you do go long, stick with solid themes such as Oil, Gas, China and agriculture.

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